Funfair / Funtoken - fractalA lot of similarities to the idea posted last December, where price action went up 1500% in 50 days. Not saying that is going to happen again. However the setup is remarkable similar. Which is:
On the above 2-day chart starting with the 1st purple circles:
1) leading up to the 1st purple circle price action crossed up the 200-day and 50-day EMAs before coming back to test the 200-day as support. Now look right.
2) Price action has recently corrected 50% to test the 0.786 golden ratio.
3) The Gaussian channel has just turned green as before, this is super bullish, on the same 2-day chart (below)
4) Lastly on the weekly chart (bottom) price action has broken out of a pennant formation. Currently price action is testing the 100-week (cyan line) as support. This support level is also past resistance, look left.
Is it possible price action falls further? Sure.
Is it probable? Unlikely.
1st target 9 cents as determined by the pennant extension.
Good luck!
WW
Gaussian channel
Weekly chart
